The National Blockchain Technology Innovation Centre, which was initially announced in February, formally began operations in Beijing, the capital of China, on May 10.
The center will collaborate with local universities, think tanks and blockchain businesses to train more than 500,000 specialists in distributed ledger technology (DLT).
Furthermore, the Beijing Academy of Blockchain and Edge Computing is leading a new center. The center developed the ChainMaker blockchain, a home-grown blueprint for development.
ChainMaker is supported by 50 business corporations, most of which are state-owned. The corporations include China Construction Bank and China Unicom. The center aims to advance blockchains and edge computing technologies.
Zheng Zhiming, a professor at Beihang University’s School of Mathematics and Systems Science, aims to unify the fragmented blockchain applications in China by establishing a central network.
This network will connect the “blockchain’s islands” and bring coherence to the various blockchain use cases in the country. The center aims to create a more efficient and connected blockchain ecosystem.
“Connecting blockchain’s application platforms and aggregating blockchain application ecology will significantly enhance blockchain’s innovation capabilities and core competitiveness. ”
Moreover, the center aims to accelerate the creation of “ultra-large-scale” blockchain computing power clusters. Its goal is to support the growth of the blockchain industry in China.
China’s Efforts To Develop Digital Economy
With the crackdown on cryptocurrencies still in force, the Chinese government continues actively researching the digital economy’s possibilities.
Chinese companies aim to develop AI with weaker semiconductors and chip combinations to reduce reliance on high-tech hardware imported from the US. This strategy allows them to bypass potential supply chain disruptions and enhance technological independence.
The country is also marching ahead with its central bank digital currency project. In April, it announced expanding the use cases for the digital yuan to its “Belt and Road” initiative and cross-border trades.
Additionally, China has launched the National Blockchain Technology Innovation Center in Beijing. The move reflects the country’s ongoing commitment to expanding its digital economy and advancing blockchain technology.
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They expect the center to transform into a blockchain research, development, and innovation hub. The center aims to train 500k blockchain specialists, boosting China’s blockchain industry growth and development.